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Among these four new funds, two are ETFs, one is index fund and fund of fund (domestic).
Groww Nifty India Defence ETF
Groww Nifty India Defence ETF is an open‐ended scheme tracking the Nifty India Defence Index – TRI. The new fund offer or NFO of the scheme is open for subscription and will close on October 4. The scheme will reopen for continuous sale and repurchase on October 18.
The investment objective of the scheme is to generate long-term capital growth by investing in securities of the Nifty India Defence in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty India Defence Index, subject to tracking errors.
The scheme will be benchmarked against Nifty India Defence Index – Total Return Index. The scheme will be managed by Abhishek Jain. The scheme will allocate 95-100% in constituents of Nifty India Defence Index and 0-5% in money market instruments / debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds.
Groww Nifty India Defence ETF FOF
Groww Nifty India Defence ETF FOF is an open-ended fund of fund scheme investing in units of Groww Nifty India Defence ETF. The new fund offer or NFO of the scheme is open for subscription and will close on October 4. The scheme will reopen for continuous sale and repurchase on October 18.The investment objective of the Scheme is to generate long term capital gains by investing in units of the Groww Nifty India Defence ETF.
The scheme will be benchmarked against Nifty India Defence Index – Total Return Index. The scheme will be managed by Abhishek Jain. The scheme will allocate 95-100% in units of Groww Nifty India Defence ETF and 0-5% in debt and money market instruments / and units of debt/liquid schemes of domestic mutual funds.
Mirae Asset Nifty PSU Bank ETF
Mirae Asset Nifty PSU Bank ETF is an open-ended scheme replicating/tracking Nifty PSU Bank Total Return Index. The new fund offer or NFO of the scheme will open for subscription on September 24 and will close on September 30. The scheme will reopen for continuous sale and repurchase from October 3.
The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty PSU Bank Total Return Index, subject to tracking error.
The scheme will be benchmarked against Nifty PSU Bank TRI (Total Return Index). The scheme will be managed by Ekta Gala and Akshay Udeshi. The invest will allocate 95-100% in securities included in the Nifty PSU Bank Index and 0-5% in money market instruments including tri party repo/ debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds.
Baroda BNP Paribas Nifty200 Momentum 30 Index Fund
Baroda BNP Paribas Nifty200 Momentum 30 Index Fund is an open-ended scheme replicating / tracking the Nifty200 Momentum 30 Total Returns Index. The new fund offer or NFO of the scheme will open for subscription on September 25 and will close on October 9.
The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty200 Momentum 30 Total Returns Index before expenses, subject to tracking errors, fees, and expenses.
The scheme will be benchmarked against Nifty200 Momentum 30 Total Returns Index. The scheme will be managed by Neeraj Saxena. The scheme will allocate 95-100% in equity and equity related securities of companies constituting Nifty200 Momentum 30 Total Returns Index and 0-5% in money market instruments & units of liquid scheme and cash and cash equivalents.
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